Over the past few weeks, the entire jailbreak community has watched pod2g work diligently on the iOS 5 untethered jailbreak. All eyes have been on the infamous hacker as he has tested his exploit on device after device running iOS 5.0.1.

Tonight, it appears that all of his hard work has paid off. After waiting more than 2 months for an untethered iOS 5 jailbreak, it’s finally here. You can now completely jailbreak any A4 device running iOS 5.0.1.

The untether release was a team effort. While pod2g is responsible for most of the leg work, both the Chronic and iPhone Dev teams have released jailbreaks based on his findings. Here’s everything you need to know:

Those that are already jailbroken are encouraged to download the Cydia package. It’s called Corona 5.0.1 Untether, and you should have no problem locating it. This is by far the easiest way to get an untethered jailbreak on your device. We’ve tested it on an iPhone 4 and can confirm that it works like a charm.

For those who aren’t currently jailbroken, you’ll have to use RedSn0w to do a full jailbreak. You can download RedSn0w here. As always, we will post a step-by-step tutorial on how to jailbreak using these programs as soon as possible.

Important notes:

Folks that depend on an unlock should use the Custom IPSW option found in RedSn0w (under “Extras”) before moving forward with the jailbreak.

There is still no jailbreak available for A5 devices, but it’s being worked on.

This does not work for iOS 5. You will have to update to iOS 5.0.1 for this to work properly. p0sixninja says they’re still working out bugs with the iOS 5 untether.